SCBs’ median MCLR up 130bps in FY23 vs RBI repo rate hike of 250bps; SCBs’ WALR (on fresh loans) up 169bps
Monthly data on lending and deposit rates of scheduled commercial banks (SCBs) (excl. regional rural banks and small finance banks) for the month of Mar’23 point at the following trends: 1) SCBs’ weighted average lending rate (WALR) on fresh loans was up 169bps in FY23 (96bps in H1, 73bps in H2); 2) their outstanding TD rates were up 113bps in FY23 (36bps in H1, 77bps in H2)